Pension chief quits position suddenly

Pension Administrator Tim Thonis resigned Monday after the Ventura County Retirement Board declined to make changes that could have led to higher salaries for top officials who oversee the county’s $3 billion-plus retirement fund.

The board voted 6-3 against moving forward on a plan to create a “special district,” which could have given the board the authority to set salaries for Thonis and several other employees.

Thonis surprised the board with his resignation — made after the vote during a public comment period. He informed the board that his last day would be Jan. 21, three days before the next meeting. One member asked him to reconsider, but he declined.

Towner said the cost of recruiting and hiring a replacement is going to be more than a salary increase.

The administrator position currently has a base salary of $170,000 a year. Beyond the cost of recruiting, it may be very difficult to find someone qualified to fill the position at that pay level, Towner said.

“This is a real niche job,” he said.

The administrator manages about 30 employees and is responsible for tracking investments to help boost the retirement fund for the county’s 5,200 retired workers and more than 15,000 active employees, as well as people who are still a part of the system but no longer employed by the county.

Thonis, a longtime county employee who has held various positions, could not be reached for comment after he announced his resignation Monday.

Chief Financial Officer Henry Solis will take over administrative duties until a replacement can be found, officials said.

Thonis’ resignation is apparently the culmination of years of deadlock over his salary. When he was hired as the administrator about four years ago, Thonis said certain promises were made about his pay raises. His salary was tied to the position of a county chief deputy administrator, but after that position was upgraded with a title change and raise, the status of his salary was put into “never-never land,” according to Retirement Board member Art Goulet.

While the Retirement Board has authority over hiring and firing the administrator, it doesn’t control the salary. That responsibility lies with the county executive officer and the Board of Supervisors.

The Retirement Board has recommended raising Thonis’ salary the past two years, but any discussion of the topic has been put off by the CEO and Board of Supervisors.

Goulet said that because the board has the ability to hire and fire, it only made sense that it should have the authority to set salaries.

The costs of administering the multibillion-dollar fund — $3.5 million in 2009 — comes from retirement contributions made by county employees and the county. Under law, the costs cannot exceed 0.18 percent of the total fund. In 2009, the administrative costs amounted to about 0.1 percent. Salaries and benefits to the employees added up to about $1.66 million.

When compared with other funds across the state, Goulet said, Ventura County’s is run inexpensively. Beyond that, there’s an issue of fairness, according to Goulet.

Under the proposal considered Monday, the Retirement Board would have used certain provisions provided under the law for special districts. But to make that change, the board would have had to find a state legislator to sponsor a bill, and even board members who supported the change doubted that would have succeeded because of opposition from the Board of Supervisors.

County Executive Officer Marty Robinson urged the Retirement Board to back down from the move, saying in a letter that it would ultimately cost taxpayers money. It also would take away salary oversight from elected supervisors. Retirement Board members are appointed.

“It is also quite clear that salary increases considered by special districts receive far less publicity and public scrutiny than those considered by the Board of Supervisors,” Robinson said in her letter. “It is inappropriate at this time to increase salaries.”

Retirement Board member Robert Hansen said that with county nurses, sheriff’s deputies and others agreeing to cuts in benefits and salaries, it is the wrong time to approve a raise for a top administrator.

“It has nothing to do with Tim,” Hansen said. “Everyone knows he’s good at what he does. It’s a timing issue.”